The Law Firm of Levi & Korsinsky, LLP Launches an Investigation Into Possible Breaches of Fiduciary Duty by the Board of Varian Semiconductor Equipment Associates, Inc. in Connection With the Sale of the Company to Applied Materials, Inc.

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NEW YORK, May 4, 2011 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of Varian Semiconductor Equipment Associates, Inc. ("Varian" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Applied Materials, Inc. Under the terms of the transaction, Varian shareholders will receive $63 per share of Varian stock they own for a total transaction value of $4.9 billion.

The investigation concerns whether the Varian Board of Directors breached their fiduciary duties to Varian stockholders by failing to adequately shop the Company before entering into this transaction and whether Applied Materials, Inc. is underpaying for Varian shares, thus unlawfully harming Varian stockholders.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.